|Introduction||The Saudi Arabian Refineries Company (SARCO) announces that its board of directors has accepted the resignation submitted by Mr. Maqid bin Ibrahim Al-Otaibi (Member of the Board of Directors) from the position of Managing Director, according to the minutes of the Board of Directors issued on 12/01/1443 AH corresponding to 30/06/2022 in the evening, at The resignation shall be effective from 01/07/2022.
The members of the Board of Directors of the Saudi Arabian Refineries Company (SARCO) extend their thanks and appreciation to Mr. Maqid bin Ibrahim Al-Otaibi for his efforts in managing the company in the previous period, wishing him success.
|Name of the Resigned CEO||Maqid Ibrahim Al-Otaibi|
|Resignation Acceptance Date||2022-06-30 Corresponding to 1443-12-01|
|Resignation Effective Date||2022-07-01 Corresponding to 1443-12-02|
|Reasons for Resignation||Not adopting some powers and not interacting in some matters to facilitate the company’s business|